Sun, 27 Sep 2020

Man arrested after global investigation into Irish real estate fraud

New Mexico State News
23 May 2020, 02:05 GMT+10

DUBLIN, Ireland - Garda attached to the Garda National Economic Crime Bureau (GNECB) on Friday arrested a man, aged in his 50s, following a two-year ongoing investigation resulting from intelligence received from the Property Registration Authority.

The man, acting in a professional capacity, is suspected of submitting false deeds to the authority stating the ownership of two properties had transferred from one entity to a second entity.

An estimated €260,000 in funds was fraudulently claimed by persons involved in this scam, from the collection of rent at these properties.

As a result of this, the legitimate owners of the properties suffered a significant financial loss.

This extensive investigation conducted by GNECB involved inquiries through Interpol in the UK, USA and Virgin Islands. A number of companies registered in these jurisdictions are believed to be connected to this investigation. To date, GNECB say they have conducted four search operations and seized over 480 exhibits in relation to the investigation.

Friday's arrest is the latest in a series of investigative tasks conducted by GNECB in relation to this matter.

The man arrested is currently detained in Terenure Garda Station.

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